05.09.2016 - Technical view on stock indexes

The price of the futures on the American stock index S&P500 has shown strong growth during which has broken the upper boundary of the descending channel and in the near future may continue increase until 2195-2200. Overcoming these levels is unlikely and a drop in prices may be resumed in the near future. In this case the signal to sell will be fixation below 2170. Our medium-term outlook remains negative.

Nearest resistance levels: 2200, 2250, 2300

Nearest support levels: 2170, 2150, 2135, 2120, 2080, 2040, 2020, 2000, 1980, 1950, 1910

The price of the futures on the German stock index DAX30 has not been able to overcome the important support level at 10500 and rebounded upwards. In the near future the price will probably reach the level of 10800 and fixing above this level will become a signal to buy with targets at 11200 and 11600. According to our estimates, the decline may be resumed in the near future and a signal to sell will be breaking through support at 10500. The objectives this case will be 9800 and 9300. Our medium-term outlook remains negative.

Nearest resistance levels: 10800, 11000, 11200

Nearest support levels: 10500, 10150, 9800, 9600, 9300, 9000, 8750, 7900, 7500

The price of the futures on the Japanese stock index Nikkei225 continued growth within the local rising channel after was able to overcome the resistance level at 16800. The closest target is 17250 and after its overcoming, growth may continue to 17500. According to our forecasts, the growth potential is limited and in case of a fall and fixing below 16800, we expect to see a decline to 16300 and 15850. Our medium-term outlook remains negative.

Nearest resistance levels: 17250, 17500, 18000, 18600, 19000

Nearest support levels: 16800, 16300, 15850, 15400, 15000, 14000, 13600, 12500

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